Industry News
Mortgage Industry News
Mortgage Applications Jump
03/03/2010
ADP printed in-line with expectations with a sizable downward revision to January; MBA mortgage applications jumped by 14.6%. Greek bonds are rallying after Greece announced a 4.8B euro budget cut. Consensus for Nonfarm payrolls on Friday is -58K. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.638% (3.64% yesterday) and the 2-10 yield spread is at 282bps.
